The recently concluded AGM was held on 23 April 2008 at the National Museum of Singapore. The pre-meeting events [Museum Tour and Continuing Education Talk] and subsequent meeting was attended by over 40 regular members and more than 25 associate members and guests.
The quorum of at least 30 regular members was met and the AGM started at 8.12pm with the society’s president, Daniel Schaefer, CFA addressing members. Minutes of the previous meeting, the Annual Report and Accounts for 2007, constitutional amendments were adopted and approved by regular members present and voting by proxy. The constitution amendment sought was to replace honorary auditors with professional/external auditors and to put in place an audit committee. Society treasurer Gary Ng, CFA noted that as the society’s revenues and transactions grow it is unfair to impose the heavy burden of auditing on volunteers and the society hopes to raise its governance standards.
The meeting also elected 6 regular members to serve a 2-year term on the society’s Board. They are: Elizabeth Chau, CFA; Albert Ee, CFA; Keoy Soo Earn, CFA; Sam Phoen, CFA; Joseph Poon, CFA; Daniel Schaefer, CFA. 2 regular members: Sri Prihadi, CFA and Seow Hock Hin, CFA were elected to serve as honorary auditors for a term of 1 year and they will be assisted by professional auditors in the interim period before the constitutional amendment comes into effect.
The meeting adjourned at 9.15pm and 6 candidates sitting for the June 2008 CFA examinations were presented with the society’s bursary-scholarship award.